Chap. 367.—An ACT to Incorporate the Virginia Iron and Land Company.

Approved April 2, 1873.

1. Be it enacted by the general assembly of Virginia, That
S. R. Allebaugh, Jacob N. Cowan, J. D. Price, Joseph S. Loose,
Charles T. O’Ferrall, Hiram Coffman, J. W. F. Allemong, J.
M. McCue, John I. Cupp, Samuel Forrer, Ran D. Cuslan, E.
C. Peckin, George G. Grattan, Benjamin E. Long, or such
of them as may accept the provisions of this act, and such
other persons as may hereafter be associated with them, their
successors and assigns, be and they are hereby constituted a
body corporate and politic, to be known as the Virginia Iron
and Land Company.

2. The capital stock shall be not less than five thousand dol-
lars nor more than two hundred thousand dollars, and the offi-
cers of the company may be a president, secretary and board
of directors, the said board to consist of not less than five nor
more than nine bona fide stockholders.

3. The said company shall have power to erect furnaces,
forges, rolling-mills, machine shops and manufactories, and
may lease or purchase, or exchange its stock or bonds for ore
beds and banks, timber and agricultural lands, iron ore, mar-
ble and stone quarries, and any and every kind of mineral
lands, upon such terms as the parties interested may agree
upon; may work, mine, &c. the same, and manufacture and
transport to market the proceeds thereof; and shall have all
the rights and privileges granted in an act to incorporate the
Shenandoah Iron, Lumber, Mining and Manufacturing Com-
pany, approved June thirtieth, eighteen hundred and seventy,
not otherwise herein specially provided, and not inconsistent
with this act.

4. The said company may receive from any person or per-
sons voluntary donations of lands or personal property, or
money donated in aid of the construction and equipment of
any of its works, and may hold and use the same as part of its
capital stock; and may dispose of such title as it may have ac-
quired in any real estate by proper deeds of conveyance, exe-
cuted by the president and secretary, by and with the approval
of a majority of the board of directors; and may also receive
subscriptions to its capital stock in lands, mines, profrty,
labor, materials and otherwise from other companies, corpora-
tions or associations, or individuals, either within or without
this state, and make such arrangements as may be agreed upon
between them and the parties interested respectively for the
endorsement, sale and exchange of bonds and stocks as may
facilitate a speedy completion of their works.

5. That said company may make connection with any rail-
road in the county of Rockingham, and may lease or purchase,
lease or sell to, or merge and consolidate with any railroad
company now organized or that may be hereafter organized to
construct a railroad within said county, either in whole or in
part, upon such terms as may be agreed upon by the parties in-
terested, subject to the approval of three-fifths of the stock-
holders. Thesaid company, and the company into which the
same may be so merged and consolidated by lease, sale or
other contract, shall be entitled to all the rights, powers and
privileges conferred and subject to all the restrictions and
regulations imposed by the Code of Virginia and acts amend-
atory thereof upon internal improvement companies.
6. This act shall be in force from its passage.